Hokitika Guardian Evening & Star SATURDAY, JUNE- 19th,, 1920. THE WÈEK

Hokitika Guardian, 19 June 1920, Page 2

Hokitika Guardian Evening & Star SATURDAY, JUNE- 19th,, 1920. THE WÈEK

Tub official estimates published this week ns to the time for the completion of the Otira Tunnel works, brings that important occasion definitely nearer. Jt is true that at Arthur’s Pass in August, 19? 8, at the ceremony to mark the piercing of the tunnel, the then Minister of Public Works, §ir Wm. Fraser, spoke of the line being in operation in two years time! Evidently, Sir Wm. did not speak by the book, as his own departmental officers now dis dose that the electrical madiinery for working the tunnel is not yet ordered! So much for some ministerial statements. The present statement regarding the completion of the tunnel comes from a responsible official, and from wlntt what we know of Mr Furkett’s record he is not likely to err on the side of extravagant statement. Mi Furkett sots a definite period within which the line can bo finished—June 10 of next year, and with the exactitude which has marked the - engineering works connected with the tunnel works, it is devoutly to bo wished Jio timfe-table wiljl lie kept. But oven then, we shall be a year off the date when the line may be operated. Thanks again to Sir William Fraser, there is to' be more delay! His procrastination in ordering the electric power machinery is going to iippose further loss of time. For years past, on both sides of the range, agitation has been going

on for the electrification, works to :>c 1 determined and tlie plnnt ordered. £ r | William’a answer was that the power would be there when tfle tunnel was ready. It is clear again from Mr Fu kett’s statement that once more the ►x- , Minister of Public Works has iium- j bugged the people. Tiicsk who have an intimate knowledge of the progress of Lhe OtTrn Tunnel worsk will he rather amused at tie statement made in a. Christchurch paper this week, “that if half the energy had been expended on tlie work during successive Liberal Administrations c.Uat has been devoted to it since the Reform Government came into power, the "adway would have been an accomplished fact years ago.” It is a well-known fact that against considerable opposition from the opponents of the Liberal Government, this work was originally un dertaken. Mr Seddon launched it, and thereby gave another example of ■ -s foresightedness, for the Otira, Tunnel is going to be the portal whereby gr«-it prosperity will flow east and west, and when in operation the people o ( this country will marvel as they •>' | doing now over another great Liberal designed project—the harnessing of tha waters of. Lake Coleridge— “Why was it not consummated .sooner?” The demise of Sir Seddon came „nt a. very critical period as affecting the fortune of the Otira Tunnel, but it was due to the courage of Sir Joseph Ward who followed as Premier, that in 1908 a contract was accented for the work. Under that contract the tunnel was to haie been completed in 1914, but we all know that for various reasons the contractors failed and the Liberal Government of the day again showed courage in taking over the work and pusning P on—despite much influential opposition. Labor troubles intervened and then came the war, and so the work had dragged on. Reform has been in power for eight years now, and there is stiil another two years’ work—one year a! least is caused by the procrastination of a Reform Minister —so that of the 1 fourteen years, the period the work i« to take, four were in the Liberal regime | and yet the Christchurch paper comj pares “the energy” of the two parties ' over this great national work".

i An American paper commenting uii the world situation a couple of months ago, remarked “all’s riot with the 1 world.” The nnsettlement of the peo- ; pie is invading all classes and there are many surprising evidences of unrest in walks of life least unexpected. A degree of unrest is no doubt natural, ! but where there is intelligence of mind, or rather where intelligence of mind ; should be expected, it is - surprising to j find an attitude of revolt against authority and the public interest. Th's unreasonable condition of affairs has invaded the public service, and we find threats of disorganisation proceeding from bodies of men and women whoso position in the social world should be a guarantee that they at least would have respect for law and order. Yei within the past few days there are evidences that the worst form of iovolt against public interests is being threatened by postal officials and even school teachers. Last week, for instance, a mass meeting of Otago teachers affirmed in a resolution that failing satisfaction of their demands they are ready to support their institute “in any measures” it may think necessary. As the Minister" of Education has observed- in a. temperate protest, the threat of “direct action,” which is presumably implied will not assist in his endeavours to better ’lie conditions of the teaching profession. The due -support of State education in this country very .obviously depends, comments an exchange, upon the ability of its people to take and maintain a’ national outlook and teachers of all people, might have been expected to realise that violent threats in support of sectional claims—irrespective of the merits of these claims—serve their chief purpose in assisting to destroy such an outlook. The action of the Otago teachers was, of course, that of a minority of the profession, but it stands out as an instructive arm disturbing sign of the times. As mupn is to be said of the “strong indignation” expressed by the Post and Telegraph Officers Conference at the Government proposal that concessions to their branch, of tlie Public Service should be based on those made to railway servants; and its “absolute astonishment” at the suggestion that salary claims should be met by a bonus. Like the bellicose declaration of the Otago teacher, sthe attitude of the Post and Telegraph Officers Conference reflets a spirit which threatens to take complete possession of this country and seriously clouds its future. The community is showing an increasing tendency to fall apart in warring sections, each one of them violently pressing demands which evidently cannot be satisfied. Here and elsewhere there is urgent need of a great effort by • leaders of moral thought for an effort tfc create an atmopheres in which reforms calculated to uplift and benefit the whole community might proceed apace.

The Republican Convention at Chicago has selected Senator Warren G. Harding of Ohio for nomination for the Pro. sidency of the United States. Mr Harding’s selection was by a sound majority, and it seems probable that it will stand. Senator Harding is a pressman, and appears to be regarded as a made rate in liis political views and aspirations, The opposing party in American politics appear to be pot displeased with the seipction, as they consider his candidature will help clarify the issues at stake. American politics are so bitter and vigorous that Senator Harding will find a good deal of opposition from within, but even disappointed Republicans will have to admit that bis selection was by a substantial vote. The Republican party has been responsible for holding up the Peace Treaty in the United States, and the main factor in the present great national contest will ho the treaty obligations of the United States towards European affairs. The Democrats appear to be proceeding rather more decorously toward s the, selection of their Presidential candidate, but it is likely that the mana of Mr Woodrow Wilson will have, its effect, and that in a general way the nominee from the party will be a candidate lean, ing towards honoring the word of America as passed by its President at the great Peace Conference. The first meeting of the League of Nations is to

take place, apparently rather opportunely, in America next month, and this move may help materially to strengthen American public opinion regarding inter-allied relations, and at the same time' have its effect on the course of the Presidential elections.

Apart from the Government borrowing which is to take eiiect this year, probably to the tune of twelve millions, many local bodies will be going on to the money market for advances also. The Wellington City Council is reported to be contemplating a loan oi a million for new works, while harbour boards and tramway board g are also negotiating loans running into six iigures at a time. For hydro-electric works, chiefly in the North Island, large sums will require to be borrowed, and a considerable amount of money will be needed klso, lor housing schemes. All these demands coming on the top of the Government borrowing, and with the declining How of payments from the Imperial Government, it is easily understood that money will becojne dearer. The local bodies are finding it difficult to raise money at the per centage stipulated by the Government, and in almost every case are asking permission to advance the rate of interest payable beyond 51. There is not any alarm felt that the money will not be available, or that it requires gilt-edged securities to attract it. The fact is, there Is plenty of money, or at all events credit, in the country, and it is just a matter of tapping these sources of wealth. The immediately supply depends mainly on the amount of credit to be given by 'the banking institutions. It is there ivhere the purse strings are held, and the financial position will be controlled largely, if not entirely, from that quarter. The stoppage of the commandeer will restrict the sale and the cash from our primary products and that will impose a degree of dislocation in the money market which the banks will be expected to remedy, at all events to a considerable extent

The wealth within the country is revealed to a marked degree by the figures given in the address of the Chairman of the Bank of New Zealand published yesterday. The banking returns for the past quarter as compared with previous March quarters, show a great accession of wealth within the past six ■ years. As compared with 1914, the free deposits having increased from about thirteen and a half millions to nearly thirty five millions, equal to more than 150 per cent. The fixed de posits increased from ten and a half million to upward of sixteen millions, or about 50 per cent, increase. There ha s been, as Sir Beauchamp says, a phenomenal growth” in the. last year probably atributable to the large disbursements on account of the soldiers. It is said that upwards of eighteen millions have been circulated on account of repatriation of soldiers, while nearly six millions have been given away in the war service gratuity. Within a limited'period of a y ear tl*> s ’ s a l ar g e !'Sgrogate sum for a country such as this to disburse under one heading. The country ha s now to face this and other burdens, but the load is not beyond the resources of the country. Oi the'' eighteen millions for repatriation purposes, this will be largely interest earning, and though losses will occur, the great bulk of the money i s well secured and is being used reprodactively. slump in land values or in the price of products, might operate advei. sely for a time, but in the end the principal will prove to he well invested and for the material benefit of the country. With sound government and a restriction of lavish expenditure, New Zealand has resources enough to maintain an increasing population happily ajul even prosperously. ,